Finance

Approval given for Hong Kong leg

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The Ant Group Co. logo and the Alibaba Group Holding Ltd. logo are displayed behind a reception desk at the company’s headquarters in Hangzhou, China, on Monday, Sept. 28, 2020.

Qilai Shen | Bloomberg | Getty Images

GUANGZHOU, China — Ant Group has won approval from the Chinese securities regulator for the Hong Kong leg of its initial public offering (IPO), moving it one step closer to listing, CNBC has confirmed.

The financial technology giant, which is 33% owned by Alibaba and controlled by billionaire Jack Ma, is seeking to list in Shanghai and Hong Kong in a concurrent IPO.

The China Securities Regulatory Commission has given the green light for the Hong Kong portion, a person familiar…



Source cnbc.com

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